Israeli Stock Market Sees Mixed Performance Amid Company News

The Tel Aviv Stock Exchange experienced a mixed trading session, with dual-listed stocks opening flat and Elbit Systems expected to fall by approximately 2%. Elbit Systems' stock has seen a 30% decline from its peak, raising questions about its current valuation, though analysts note that the entire sector has experienced a downturn, with some competitors falling by as much as 50%.

Alumay, a company in which Ofer Yanai acquired shares at a price 20% higher than the current market value, is also under scrutiny. Despite the rise in renewable energy stocks and Alumay's profitable sale of its Dorad assets, its stock price is lagging. Concerns have been raised about whether the group is intentionally suppressing Alumay's stock value to acquire shares cheaply, especially as Yanai has reportedly approached "Klal" to purchase its shares, which could lead to the company's delisting.

In other market news, Goto has signed its first SaaS deal in Israel with "Kalkalmovil" to provide its technology for a work vehicle rental service. The company's CEO, Gil Laser, confirmed the deal and reiterated the company's 2026 revenue and EBITDA forecasts, anticipating profitability in some quarters this year.

Meanwhile, Zooz Power, now rebranded as Zooz Strategy, has seen its stock plummet by nearly 90% since its pivot to Bitcoin acquisition. The company invested heavily in Bitcoin at an average price of $116,000 per coin, significantly higher than the cryptocurrency's subsequent drop to around $58,000. CEO Jordan Fried has committed to avoiding dilutive capital raises, preferring to focus on increasing per-share value.